Sony Computer Entertainment has purchased cloud gaming company Gaikai for about $380 million.

The latest acquisition is meant to build on Sony's gaming platforms, but it is currently unclear how the company will use Gaikai's technology. Some potential applications, however, could be bringing older PlayStation titles to the PlayStation 3 and Vita via the cloud.

Gaikai is also capable of delivering cloud-based gaming services to PCs, smartphones, tablets and digital TVs.

"By combining Gaikai's resources including its technological strength and engineering talent with SCE's extensive game platform knowledge and experience, SCE will provide users with unparalleled cloud entertainment experiences," said Andrew House, Sony Computer Entertainment's President and Group CEO. "SCE will deliver a world-class cloud-streaming service that allows users to instantly enjoy a broad array of content ranging from immersive core games with rich graphics to casual content anytime, anywhere on a variety of internet-connected devices."

Gaikai, which was founded in 2008, was reportedly looking for a buyer last month to spend around $500 million.

"SCE has built an incredible brand with PlayStation and has earned the respect of countless millions of gamers worldwide," said David Perry, Gaikai CEO. "We're honored to be able to help SCE rapidly harness the power of the interactive cloud and to continue to grow their ecosystem, to empower developers with new capabilities, to dramatically improve the reach of exciting content and to bring breathtaking new experiences to users worldwide."

Back in May, Sony announced that it wouldn't go with a digital download-only model for its next generation PlayStation console. The company said it would stick with the optical drive instead of going with a download-only setup, showing that it will stay dedicated to physical games from video stores. However, this new step into cloud gaming shows that Sony is willing to move its gaming into the digital space too (aside from downloads from its PlayStation Store).